HomeMy WebLinkAboutRESO 1237•
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R E S 0 L U T X 0 N N 0. 1237 ---.. ., .. ------
R'ESOLU'l'ION AI!J'HORIZINO CITY TREASURER TO INVBST CERTAIN CI'l'Y FlJNDS
WHEREAS, it is for the ·beat financial intereste of the
City of Palo Alto that certain of ita inactive funds in the sum
of Fifty Tho,:aand Dollare ( $50,000.00) be invested 1n Un1 ted
States Government secur1t1e8; ond
WtmHEAS, 1 t i.s fo:r· the beet financial in ter{'l5ts of the
City ot Palo Alto that t~re be invested for the benefit of the
truet fund for met~r depo&1 t!l the sum or Five Thousand Dollars
($5,000.00) of !!ln1d fund 1n United Statea Government securities;
NOW, THEr~·oRE, the Council of the City of Palo Alto DO RESOL\~ as followes
That W. C. COBB, City Treasurer, be and he ia hereby
authorb;ed. to invest .runes of the City of Palo Alto in an amount
necee!!ary to PUl'Ch&e6 Fifty Thous$nd Dollars ($50, 000.00) par
value Un1 ted Sta t~El 'l'reasury Bonds •
B~: I'l' FURTHER RESOLVED that s&id City Treasurer be and
he is horeby authorized to invest fur.ds cf the trust fund for
meter c1epol!1ta in an amount necessary to purchase Five Thouaand
Dollars ($5,000.00) par value United States Tre~sury Bonde.
The above and foregoing re&ol.ut~on wa.e duly and. regu-
larly 1ntrod\lced and paesed at a regular meeting of the Co'lmcil
of thtt City of Palo Alto held on Monday, the 9th day of January,
1939, by tht: following votez
AYES:
NOES:
A8SENTz
Blo1e, Bonham, Collins, Costello, Cypher, Goddard,
Merner, Mitchell, Mosher, Richards, Thoita, Thomas.
None.
Cashel, Wood •
APPROVEDs ~L-./'"~
i •
A1'TESTt ~_.,~ ~ ~~ 1.' •
1/
-~Xof';
231
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